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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Crimson Ghost who wrote (71920)	6/18/2001 1:06:55 PM
From: long-gone	Respond to of 116791

Expressions of interest to be sought for Pine Creek assets, Australia Date: Monday, June 18, 2001 AngloGold Ltd is considering options for extracting the most value from its Pine Creek assets in the Northern Territory. Amongst these options is the possible sale of the assets. The company has appointed SMP Group to seek expressions of interest in the assets, which comprise the operating Union Reefs mine and treatment plant, the Brocks Creek treatment plant, service facilities associated with these operations and mining and exploration leases held by the company in the Pine Creek area. AngloGold acquired the Pine Creek operations through the successful takeover of Acacia Resources Ltd at the end of 1999. “The Union Reefs and Brocks Creek operations presented a strategic fit when they were held by Acacia Resources, and they could present a similar fit in the portfolios of the companies we will be talking to,” said Barrie Parker, Operating General Manager of AngloGold Australia. “AngloGold Australia has recently undergone a major reorganisation and as part of this we have been analysing each of our operations with a view to extracting maximum value.” Parker said the move was consistent with AngloGold’s global strategy of concentrating on higher margin, long life operations through accelerated asset re-alignments. Processing of ore at Brocks Creek ended late last year and the 1.5 million tonnes per annum plant is on care and maintenance. Union Reefs, which can treat up to 3 million tonnes of ore per annum, produced 127,000 ounces in 2000 at a cash cost of US$274/oz. If the assets are not sold, Union Reefs, 160 kilometres south-east of Darwin, will continue to operate under AngloGold management for the duration of the life-of-mine plan. Disclaimer Except for the historical information which may be contained herein, there maybe matters discussed in this news release that are forward-looking statements. Such statements are only predictions and actual events or results may differ materially. For a discussion of important factors including, but not limited to, development of the Company's business, the economic outlook in the gold mining industry, expectations regarding gold prices and production, and other factors, which could cause actual results to differ materially from such forward-looking statements, refer to the Company's annual report on the Form 20-F for the year ended December 31, 2000 which was filed with the Securities and Exchange Commission on April 23, 2001. anglogold.co.za